MRP refuses to release engineer's report
"That's like selling a car without a WOF. Are they trying to sell us a lemon?"Featured comment
Mighty River Power refuses to divulge a full engineer's report into its power generation assets.
The state-owned power company, which is being partially privatised, included a summary of the Beca report in its prospectus and investment statement.
But MRP says the full report "is not publicly available, pursuant to our agreement with Beca".
As reported by business editor Duncan Bridgeman in today's National Business Review print edition, MRP relies heavily on its ageing hydro plants, most of which were commissioned more than 50 years ago.
Economics editor Rob Hosking warns potential MRP "staggers" that they face a visit from the taxman.
Elsewhere in the paper, property editor Chris Hutching says Pyne Gould Corporation's George Kerr is selling his Queenstown property at Lake Hayes.
In Ad Hoc, Victoria Young reports magazine editor and author Ian Wishart has won an early round in an $8 million defamation case.
NBR's print edition also reveals some dairy exports were halted in the wake of January's DCD milk scare.